Online Betting Betfred Proposes Slashing Some Salaries

Published Friday, January 10, 2014 -
Online Betting Betfred Proposes Slashing Some Salaries

The internet provides an opportunity to gamble and gives some people jobs as a result. Those jobs are not always the high tech, high paid kind but as is the case in many industries just work that needs doing.

Betfred is a United Kingdom-based bookmaker, named after its co-founders Fred and Peter Done. It was first established as a single shop in Ordsall, Salford, in 1967. In a recent article in the Mirror has revealed that employees at the retail outlets of the company are facing pay cuts of as much as fifty percent. Business is business and the proposed cuts to employees wages is just that for the hard headed owners of the firm. Brothers Fred and Peter Done, together have amassed £850million in their holdings told staff that the proposed changes will “ensure fairness and transparency”.

Betfred’s proposed changes involve the nearly 1,400 shops, by replacing many of the different contracts it has with employees with one system. Most of the current staff is paid according to the grade of the shop they work in.

It has been suggested that retail outlet managers who earn about £15 an hour could see that reduced to £9 or less outside the London hub. Those salaries that stand to be reduced include those who work at the Tote outlets which Betfred purchased for £265million from the British government in 2011.

A Betfred, spokesperson stated to the press, “Betfred is in discussion with its staff and the union on how we manage our betting shops in the future.” Adding, “There are no proposed redundancies and the changes will offer our staff ¬progression to more senior management positions. We believe that the proposals will drive the company forward and secure the future of the business.”

Betfred, realized a profit jump of 30% to £69 million in the year until last April. is owned and operated by Petfre (Gibraltar) Limited and Petfre is committed to maintaining the core values and ethos of the Betfred brand and of Fred Done himself.

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